Gas Natural Fenosa sees decline in profit

Image courtesy of Gas Natural Fenosa
Image courtesy of Gas Natural Fenosa

Spanish LNG operator Gas Natural Fenosa reported a 15 percent lower net profit of 930 million euros (US$1.03 billion) in the January-September period when compared to a year ago.

Earnings before tax and amortisation (Ebitda) for the nine-month period were 3.64 billion euros, down 6.8 percent on year, Gas Natural Fenosa said in a statement on Wednesday.

GNF said these numbers were affected by a “very demanding macroeconomic and energy environment which had a particular impact on the contribution by the gas procurement and supply business.”

Total gas sales for the first nine months dropped 0.9 percent to 213 TWh, due to a decline in Spanish sales which fell by 5.3 percent to 111.4 TWh.

GNF, that according to its website has a fleet of 8 LNG tankers with a capacity of 1.2 million cubic metres, spent 206 million euros in September this year on the purchase of a new LNG carrier. The vessel was acquired under financial lease, Spanish utility noted in the statement.


LNG World News Staff

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